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Changes Are Reshaping China

By

Kathy ChenStaff Reporter of THE WALL STREET JOURNAL

Updated June 8, 2004 12:01 a.m. ET

BEIJING -- China is enjoying a huge economic boom, but it also is a country where banks are mired in bad debt, natural resources are dwindling fast, many college graduates can't find a job and some promising, homegrown companies are starting to stumble.

China long has had such problems as environmental degradation and an ailing banking sector. Still, the dramatic growth and changes that have reshaped the country in the past two decades are putting unprecedented strains on its social, political and economic systems. A failure...